 "ICRA ESG assigns its inaugural ESG rating to InCred Financial Services, signaling a transformative step towards sustainable investment in India.")
ICRA ESG Ratings Limited has announced its first Environmental, Social, and Governance (ESG) rating for InCred Financial Services, a non-banking financial company. Recently registered as a Category-I ESG Rating Provider by SEBI, ICRA ESG aims to aid investors in understanding non-financial risks and opportunities. InCred received a rating of Impact 57, categorized as Moderate. This rating helps both investors and the company itself to navigate sustainability and investment decisions more effectively. Ramnath Krishnan, CEO of ICRA Limited, highlighted that ESG ratings will promote a more environmentally conscious business environment in India, enhancing the company’s commitment to sustainability and responsible investing.
ICRA ESG Ratings Limited has made a significant move in the financial sector by assigning its first Environmental, Social, and Governance (ESG) rating to InCred Financial Services, a non-banking financial company (NBFC). This rating comes after ICRA ESG recently received registration as a Category-I ESG Rating Provider from the Securities and Exchange Board of India (SEBI). Previously known as Pragati Development Consulting Services Limited (PDCSL), ICRA ESG is now stepping into an important role in enhancing sustainable financial practices.
InCred Financial Services, which specializes in offering personal, student, and business loans, has been assigned a moderate rating of “ICRA ESG Impact 57.” According to ICRA ESG, these ratings will assist investors in understanding the non-financial risks and opportunities linked to different companies, ultimately enabling them to make more informed and responsible investment choices. This initiative strives to nurture a more sustainable investment landscape by providing critical insight into the ESG impacts of businesses.
Additionally, ICRA ESG’s ratings give companies insights into their own ESG performance, helping them identify opportunities for improvement and plan for more sustainable actions in the future. Ramnath Krishnan, Managing Director and Group CEO of ICRA Limited, emphasized that the adoption of ESG ratings in India can drive positive changes in the business environment, making it more inclusive and environmentally responsible.
ICRA ESG offers various ratings, including Impact, Transition, and Combined ratings, on a scale from 0 to 100. The ESG Impact Rating measures a company’s influence on the environment and society in relation to its governance practices, marking an important step for businesses aiming to cultivate responsible and sustainable operations in today’s Market.
Tags: ICRA, ESG Ratings, InCred Financial Services, Sustainable Finance, Investment, Non-Banking Financial Company, SEBI, Responsible Investment, Environmental Impact, Corporate Governance.
What is ICRA ESG Rating?
ICRA ESG Rating is a score that evaluates how well a company is doing in terms of environmental, social, and governance practices.
Why did InCred Financial Services receive an ESG rating now?
InCred Financial Services got its first ESG rating to show its commitment to responsible business practices and sustainability.
What factors are considered in the ESG rating?
The rating looks at how a company impacts the environment, how it treats its employees and customers, and how it is governed.
How can this rating benefit InCred Financial Services?
Having a good ESG rating can help InCred attract more investors, improve its reputation, and show that it cares about more than just profits.
Is this rating important for investors?
Yes, many investors are looking at ESG ratings to make sure their money goes to companies that are socially responsible and environmentally friendly.
